Dueling ForEx Titans

A cyber-battle is heating up among the global powers in foreign exchange. The proposed Atriax portal, which had been one of the worst-kept secrets in finance, finally announced in October that, indeed, it would come into existence.

Its spine is made up of Citigroup, Chase Manhattan Corp. and Deutsche Bank. Atriax is a for-profit cyber site through which corporations and others can compare pricing, transact trades and obtain research. It won't be free. Participants will be required to pay to join and pay transaction fees.